Funding you earn now, next payment 06:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.001%
Price spread now: Coinbase International against KuCoin+0.045%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$350.346% of the position
Funding, last 7 days−0.192%−$19 on $10k
+Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.045%, 7d avg −0.016%
=The price spread pays, funding is against you. Coinbase International is 0.062% dearer against KuCoin than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.016%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SPYUSDTM | 773.57 | 0.0100 | pay 0.0100% / 8h | 1h 19m | $2.5M | $1.0M | 20x |
| Short | Coinbase International SPY-PERP-INTX | 773.92 | 0.0032 | get 0.0004% / 1h | 19m 47s | $950K | $532K | 20x |
KuCoin SPYUSDTM
Coinbase International SPY-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.28
- Price spread: +0.045% → −0.016%
- $6.15
- Slippage, 4 orders
- −$12.58
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$42.7
- Costs to cover
- 0.346%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 7 min ago; Coinbase International: live order book, 24 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy KuCoin live order book, 7 min ago | 2.71 bp | 14.6 bp −$15 | 539.5 bp −$5,395 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 24 min ago | 0.06 bp | 5.1 bp −$5 | 7.1 bp −$71 | 33.6 bp −$3,362 | doesn't fit |
SPY on 27 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SPYUSDT | −0.0227% | 1h | 773.31 | −0.034% | $164K | $25K | 50x | as long as short |
| BloFin SPY-USDT | −0.0120% | 8h | 774.10 | +0.069% | $419K | $471K | 50x | as long as short |
| Phoenix SPY | −0.0114% | 1h | 774.01 | +0.057% | $161K | $294K | 20x | as long as short |
| Ondo Perps SPY-USD.P | −0.0027% | 1h | 773.67 | +0.013% | $4.8M | $871K | 20x | as long as short |
| Nado SPY-PERP | −0.0015% | 1h | 774.27 | +0.090% | $1.6M | $253K | 20x | as long as short |
| Aster SPYUSDT | 0.0000% | 8h | 774.32 | +0.097% | $864K | $198K | 20x | as long as short |
| Binance SPYUSDT | 0.0000% | 8h | 774.36 | +0.102% | $28.7M | $78.8M | 50x | as long as short |
| Bybit SPYUSDT | 0.0000% | 8h | 774.24 | +0.087% | $6.2M | $1.7M | 100x | as long as short |
| OKX SPY-USDT-SWAP | 0.0000% | 8h | 774.25 | +0.088% | $7.9M | $3.3M | 50x | as long as short |
| Gate SPY_USDT | 0.0000% | 8h | 773.84 | +0.035% | $770K | $2.5M | 75x | as long as short |
ApeX Omni SPYUSDT
BloFin SPY-USDT
Phoenix SPY
Ondo Perps SPY-USD.P
Nado SPY-PERP
Aster SPYUSDT
Binance SPYUSDT
Bybit SPYUSDT
OKX SPY-USDT-SWAP
Gate SPY_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPY_USDT | 0.0000% | 8h | 774.36 | +0.102% | $29.7M | $11.9M | 100x | as long as short |
| Bitget SPYUSDT | 0.0000% | 8h | 774.54 | +0.125% | $10.9M | $1.8M | 50x | as long as short |
| GRVT SPY_USDT_Perp | 0.0000% | 8h | 774.43 | +0.111% | $158K | $361K | 10x | as long as short |
| SunX SPY-USDT | 0.0000% | 8h | 775.51 | +0.251% | $2K | $1.4M | 10x | as long as short |
| Deribit SPY_USDC-PERPETUAL | 0.0000% | 1h | 774.10 | +0.069% | $23K | $56K | 20x | as long as short |
| HTX SPY-USDT | 0.0000% | 8h | 774.66 | +0.141% | $300K | $38K | 50x | as long as short |
| Lighter SPY | +0.0032% | 1h | 774.48 | +0.118% | $8.2M | $18.6M | 50x | as long as short |
| Lighter RH SPY | +0.0032% | 1h | 774.71 | +0.147% | $56.4M | $119.8M | 50x | as long as short |
| Coinbase International SPY-PERP-INTXshort | +0.0032% | 1h | 773.92 | +0.045% | $950K | $532K | 20x | |
| Arcus SPY-USD | +0.0040% | 1h | 773.56 | −0.001% | $927K | $1.4M | 50x | as long as short |
| RISEx SPY/USDC | +0.0043% | 1h | 774.63 | +0.137% | $7.1M | $4.2M | 25x | as long as short |
| Vest SPY-USD-PERP | +0.0046% | 1h | 773.47 | −0.013% | — | $123K | 50x | as long as short |
| KuCoin SPYUSDTMlong | +0.0100% | 8h | 773.57 | long leg | $2.5M | $1.0M | 20x | |
| Orderly PERP_SPY_USDC_mythos | +0.0100% | 8h | 774.33 | +0.098% | $1K | — | 20x | as long as short |
| Aevo SPY-PERP | +0.0104% | 1h | 773.86 | +0.037% | $87K | — | 10x | as long as short |
| GMX SPY/USD [ETH-USDC] | L +0.0209% / S −0.0429% | 1h | 774.38 | +0.105% | $10K | — | 26x | as long as short |
| edgeX SPYUSDC | +0.0916% | 4h | 774.22 | +0.084% | $640K | $242K | 20x | as long as short |
MEXC SPY_USDT
Bitget SPYUSDT
GRVT SPY_USDT_Perp
SunX SPY-USDT
Deribit SPY_USDC-PERPETUAL
HTX SPY-USDT
Lighter SPY
Lighter RH SPY
Arcus SPY-USD
RISEx SPY/USDC
Vest SPY-USD-PERP
Orderly PERP_SPY_USDC_mythos
Aevo SPY-PERP
GMX SPY/USD [ETH-USDC]
edgeX SPYUSDC